An article from Terra.com discusses entrepreneurship. Some people do not enjoy answering to a boss, so owning their own business is quite attractive to them. An economic portal on the site is helpful for aspiring entrepreneurs, the article says. It reveals several truths and myths for people starting their own business.
Flavio Maluf, executive entrepreneur and president of Eucatex, comments in the article about launching a business.
Cynthia Serva, the coordinator for Insper Entrepreneurship and New Business Center, also offers her advice. Serva warns that one of the most common mistakes for new entrepreneurs is to expect to make more money and work less in their startup. She says that the business owner must take care of every aspect of the company. There are no definite schedules, because the owner needs to be available at all times. This means no vacations and time off for a while, Serva says.
The article names money as a crucial commodity in new businesses. Prospective entrepreneurs need rigorous financial planning, shares Flavio Maluf. He says that it is a myth that people have to put up tons of money before they can start their business. A person new to the business world might find an appropriate business model that is already available, to save capital. Flavio states in the article that new business owners can also find quality investors and executors when they do their research.
Another truth that Flavio Maluf shares is that it is very difficult to start a company in Brazil. It usually takes five days to open a new business in America, quotes Maluf from World Bank information. In comparison, Brazil companies might take up to 107 days to open, says the article. Tales Andreassi states that this wait might be even longer for new businesses that require certain certificates or government regulations.
While it is advantageous for a new company to have an innovative concept, says Maluf, people can still open successful companies with standard ideas. Sometimes, they just need a new twist on a familiar concept.
Andreassi points out that starting a new business is not always a high risk. Even though entrepreneurs are known for taking risks, these risks are carefully calculated, says Andreassi. The whole idea is to minimize the risk. Maluf adds that new business owners lower risk by monitoring the competition, analyzing the market, and considering all possible scenarios.
As far as taxes in Brazil are concerned, the truth is that they are expensive and complicated. Andreassi states that there are different tax laws that govern small businesses in comparison to large ones. Some new companies must stay small to deal with regime changes, Andreassi shares.